``Douglas Jackson is consulting for a membership organisation called Coeptis that hopes to launch a new version of his gold-backed currency, which attracted millions of users at its height. High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/f7488616-561a-11e3-96f5-00144feabdc0.html#ixzz2mFwxX6YP
The aim is to lure many of the people who have been attracted to Bitcoin and other virtual currencies this year, including businesses that are looking for a cheap way to process payments outside the traditional banking system. Coeptis's "global standard currency" would be fully backed by reserves of gold, held in a trust, in effect turning the precious metal into a medium of exchange.''